Inflation Statistics Show a Uptick, How Will Shiba Inu (SHIB), Cardano (ADA), and Kangamoon (KANG) React?
The latest data from the BLS has shown a modest uptick in the CPI, raising concerns about its potential impact on various assets, including cryptocurrencies. This article dives into whether this recent uptick in inflation might affect three tokens: Shiba Inu (SHIB), Cardano (ADA), and the rising star, Kangamoon (KANG).
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Shiba Inu (SHIB): Ecosystem Development
The Shiba Inu (SHIB) value lies in its meme coin status and a solid online community. While inflation can erode the value of traditional currencies, some people turn to cryptocurrencies like SHIB as a hedge against inflation. Therefore, a slight uptick in inflation might drive more interest in Shiba Inu as an inflation-resistant asset.
In recent Shiba Inu news, the SHIB team has made various announcements about ecosystem development. For example, these announcements include BONE contract renunciation and Shibaswap 2.0, demonstrating a dedication to transparency and fostering a robust community.
Due to all these reasons, experts remain confident that the Shiba Inu price will sit at $0.00001078 by December 2023.
Cardano (ADA): Leading the Pack
Cardano (ADA) has also made significant strides in crypto. The Cardano crypto value is more closely tied to technological developments and adoption than inflation rates. In this regard, Cardano’s long-term prospects seem resilient to short-term fluctuations in inflation.
Recent data from Santiment reveals that Cardano is among the top projects regarding GitHub commits over the past 30 days, showcasing its active development community. Moreover, Cardano’s commitment to the Genesis development phase and the imminent release of node v.8.3.0 demonstrate its dedication to advancing its blockchain technology.
This development effort makes Cardano an attractive token for people who value a cryptocurrency with a clear roadmap for growth. Regarding Cardano price predictions, analysts foresee it sitting between $0.33 and $0.37 before the year ends.
Kangamoon (KANG): A One-of-a-Kind Meme Coin
Kangamoon (KANG) will bring a unique blend of meme coin culture and play-to-earn gaming elements. While it’s still a relatively new player, its innovative approach has gained attention. Kangamoon’s value extends beyond inflation resistance, as it offers real utility and the potential to monetize their gaming time.
In this game, players take on the persona of Kangamoon, a kangaroo that loves to box. Players will be able to develop their character and engage with global players in fights. As a result, it creates an all-immersive experience where gamers can have fun and earn many in-game items.
In fact, these items hold real value in Kangamoon’s ecosystem and can be traded or sold within the game’s marketplace. This play-to-earn model opens up exciting prospects for you to turn your passion into profit.
Currently, the project’s native token, KANG, costs only $0.005. However, unlike Shiba Inu and Cardano, KANG has connections to the P2E gaming sector. As per Yahoo Finance, this sector was valued at $3292.73M in 2022, meaning its growth potential is outstanding. Experts forecast a 220% growth before its presale ends.
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